Paying fees with TD account?

[ChristinaG 91]

(( I wasn't sure if this should be in the NVC thread or the tax/finance thread so I flipped a coin ))

I'm doing a little pre-planning..... I am Canadian and looking to open a US Bank account so that I can pay the NVC fees when we reach that stage....

So far from what I've read, it looks fairly straight-forward to open a US Account through TD ((I hate RBC and will not ever consider them!)) From the NVC wiki, the fees must be paid from a US account (routing number, et al)

Has anyone used the American TD Bank to pay these fees? Any issues?

Figured I'd ask before I start building up a balance to pay the fees for the three of us ((especially with the darn fees going up!))

Cheers

[Rob L 3,811]

I don't have any direct experience with TD, others on this site have though, I hope they weigh in. This weekend we went to see RBC folks to talk about cross border banking. It was not promising for us.

1. There is no RBC bank in Seattle, so there is no branch to go to for service.
2. They do not allow transfers to be initiated online due to the risk of fraud. Someone needs to go to an RBC branch and start a transfer
3. The banker reccommended a limited power of attorney with someone trusworthy to initiate wire transfers
4. The cross border transfer come with the usual transfer fees, no free lunch

If you already have a taxpayer ID from the IRS, you can us that in place of a SSN to open an US Bank account

I think I heard that Chase does not require a passport to open an us account.

For now we are using paypal to move money.

[sharda 8]

My Canadian account is with TD and I have US account with chase, it was very simple and easy to open the account it a joint account with me and my husband however i don't think there is no cross border banking from TD in Canada and Chase in US.

If you are looking into more cross border banking the best option is TD, call this # 1-877-700-2913 24/7 .

[ChristinaG 91]

Thanks peeps!

I'm still reading and researching....

The downside is there is no 'local' TD (US) branch near my husband in Michigan, but I only plan on keeping the account(s) for a year or two while I transition to the States.... long term, I will most like get an account at the same credit union he's at to keep things simple...

I am the type to read & research a lot.... I hate surprises (LOL)... it sucks that the AOS and IV fee can't be paid by credit card through their site. And I want to get through this as quickly as we possible can (don't want to mail in money order or cashier's cheque)...

Best wishes!

[ChristinaG 91]

This is one of the leading factors for me:

Online Transfers (up to $2,500)2:

• Get no-fee transfers2 of up to $2,500 a day, online, with a TD Money Transfer. Send money to the U.S. from your Canadian based personal account at TD Canada Trust to your U.S. based account at TD Bank that is linked to your TD Bank Visa Debit Card. See how it works›

2 Transfer fees will be debited to a customer’s account and then refunded by way of a credit to the same account. Refunds will be processed by the 15th day of the month following the dates on which eligible transactions occur provided the account from which the transaction(s) originated has not been closed. Foreign exchange conversion rates may apply.

My thought to prepare for the AOS & IV fee (paying for three people - ouch!) is to slowly transfer cash to that account so that once we hit the NVC phase we will have the money to pay as soon as the invoices become available.....

[Dualie 185]

Does TD allow you to link your US TD account to your husband's US bank? My husband opened a joint account for us at Wells Fargo, which I linked up (online) to my RBC US account. I can transfer money from my CDN to my US account at RBC, then transfer that money from US RBC to Wells Fargo (I would guess TD would allow this also..), so that when the bills are invoiced, I can pay them through a US bank, no questions asked. Online banking is pretty efficient across the borders, I have found, once you figure out the process (most websites are easy to navigate).

Hope this helps a little!

Edited September 14, 2014 by Dualie

[NikLR 13,227]

I don't have any direct experience with TD, others on this site have though, I hope they weigh in. This weekend we went to see RBC folks to talk about cross border banking. It was not promising for us.

1. There is no RBC bank in Seattle, so there is no branch to go to for service.
2. They do not allow transfers to be initiated online due to the risk of fraud. Someone needs to go to an RBC branch and start a transfer
3. The banker reccommended a limited power of attorney with someone trusworthy to initiate wire transfers
4. The cross border transfer come with the usual transfer fees, no free lunch

If you already have a taxpayer ID from the IRS, you can us that in place of a SSN to open an US Bank account

I think I heard that Chase does not require a passport to open an us account.

For now we are using paypal to move money.

Number 2 isn't true at all. I transfer money across the border all the time online. Neither is number 3 accurate. You don't do a wire transfer, you simply link your US and Canadian accounts and transfer the money like you would from chequing to savings. for example. I also don't pay any fees, just a premium on the exchange. (I have RBC USA and RBC in Canada. I also have USAA in the US and transferring money from one bank to another is more hassle down here as there is no email money transfers. However you can deposit a check with your phone and do all of your banking online. I hadn't walked into a bank in years until I went to open my RBC accounts. I did both inside an RBC Canada bank. The RBC USA needs a w8ben form to open, but then when you get to the USA you get a W9 form and inform them of your SSN. I also was able to open a credit card with RBC that submits to all 3 US credit bureaus using my excellent Canadian credit.

Does TD allow you to link your US TD account to your husband's US bank? My husband opened a joint account for us at Wells Fargo, which I linked up (online) to my RBC US account. I can transfer money from my CDN to my US account at RBC, then transfer that money from US RBC to Wells Fargo (I would guess TD would allow this also..), so that when the bills are invoiced, I can pay them through a US bank, no questions asked. Online banking is pretty efficient across the borders, I have found, once you figure out the process (most websites are easy to navigate).

Hope this helps a little!

yes they allow you to link the US and the Canadian account.

(( I wasn't sure if this should be in the NVC thread or the tax/finance thread so I flipped a coin ))

I'm doing a little pre-planning..... I am Canadian and looking to open a US Bank account so that I can pay the NVC fees when we reach that stage....

So far from what I've read, it looks fairly straight-forward to open a US Account through TD ((I hate RBC and will not ever consider them!)) From the NVC wiki, the fees must be paid from a US account (routing number, et al)

Has anyone used the American TD Bank to pay these fees? Any issues?

Figured I'd ask before I start building up a balance to pay the fees for the three of us ((especially with the darn fees going up!))

Cheers

Of course you can use the US account to pay the fees as long as you have a routing number and account number. Basically, get a checking account.

Edited September 15, 2014 by NLR

[Rob L 3,811]

Number 2 isn't true at all. I transfer money across the border all the time online. Neither is number 3 accurate. You don't do a wire transfer, you simply link your US and Canadian accounts and transfer the money like you would from chequing to savings. for example. I also don't pay any fees, just a premium on the exchange. (I have RBC USA and RBC in Canada. I also have USAA in the US and transferring money from one bank to another is more hassle down here as there is no email money transfers. However you can deposit a check with your phone and do all of your banking online. I hadn't walked into a bank in years until I went to open my RBC accounts. I did both inside an RBC Canada bank. The RBC USA needs a w8ben form to open, but then when you get to the USA you get a W9 form and inform them of your SSN. I also was able to open a credit card with RBC that submits to all 3 US credit bureaus using my excellent Canadian credit.

I don't doubt you, but Number two and Number three were pretty much verbatim what the TD bank agent told us. I wonder if it is better with RBC system ( the TD banker also said that their USD credit card did not report to the US agencies, but I am beginning to doubt almost all the accuracy of what he said.)

[NikLR 13,227]

Well I am not sure about the TV because I have RBC but everything I said is true of them. Too bad that doesn't help the OP who doesn't want RBC... Check in the Canada forum though as some there have TD and would know better than I.

[NikLR 13,227]

In fact, I think I'll move it there.

~~moved to Canada forum for more specific help with cross border banking issues from NVC forum~~

[chiggins82 88]

When I looked into this, I chose RBC. Mostly because TD told me they have brick and mortar branches, but not in my state and because of this, they would not confirm if they would help me establish credit. They said it was because there are many laws and regulations that vary from state to state.

RBC is connected to PNC banks which are across the country (even though no brick and mortar banks), BUT they told me as long as I had good credit in Canada, they would use this to establish credit in the US.

Otherwise, the two banks were practically the same in what they offered. You can put money into one account and then move it to the other online. So money goes into Canadian account, you transfer for free to the US account, and then you can withdraw, pay bills etc.

Now all this said, I have learned over the years that it is real hit and miss on what banks tell you. I have been mis informed so many times and it is frustrating!! Example, I closed my BMO account because I asked multiple times and was told they do not do cross border banking (even though they have BMO Harris in the US). When I closed my account, I was told they do... sigh.

I think TD and RBC would both be fine... they seem pretty much the same with establishing credit. The person who told me that at TD may have been wrong too, but it lost them a customer.

So - PS You could look into BMO. It seems they are finally getting on board with cross border banking. They are in the mid-west. Not sure about Michigan, but worth a look.

Scotia has some connection with Bank of America I think too, but I did not look into that.

[Rob & Monika 87]

One TD caveat is to look into the type of account you have setup, what the fees are, etc, read the fine print. We weren't using the account much and after several months noticed they were charging $15/mo fees because the balance was under $100...I was not happy about that.

http://www.tdbank.com/personal/checking.html

[ChristinaG 91]

thanks for the info, peeps!!

It really does help to hear from those who've been there, done that!!

It really bites that RBC keeps coming up as one of the easiest to use... I am very hesitant as I've had far too many instances of very poor service costing me more than a few bucks I am still fighting with them to release my daughter's RESP. They're holding up the transfer because they still show my former married name, but they released my RRSP into a new account (with paperwork using my maiden name).

My husband uses a local credit union right now. I'm thinking that these cross-border account(s) I'm looking into will only be a temporary measure.... once the fees are paid I will be closing those accounts. I bank with a credit union here in Ontario and really appreciate the no-fee checking accounts. When I am reading the other "big bank" sites and seeing $4 - $20 a month in fees, I cringe!!

[NikLR 13,227]

RBC usa does charge me $2.95 a month in fees. But my Canadian account as a savings account is free.

As my daughter lives in Canada with her dad, I have the Canadian account joint with her and it makes it easy for her dad and I to move money back and forth. I also like that they used my Canadian credit to get the US credit card. Saved me a great deal of time building credit.

[Sweetmelissa 82]

I went with RBC and its been great so far (also used RBC back in Canada though so it was an easy choice for me) - cross border transfers are free and instant, and i got a US credit card right away with my SSN and Canadian credit. And cheques are free.

To answer your original questions - yes you can use the cross border banks (TD/RBC) to pay immigration fees. I just paid my AOS fees using a cheque from my US RBC account. I did order cheques with my American address first though, just to be safe!